Nan Fang Du Shi Bao·2026-01-09 08:14Core Viewpoint - The transfer of 200 million shares (4.991% of total equity) of Guoren Property Insurance Co., Ltd. is being offered for sale at a base price of approximately 331 million yuan, marking a strategic adjustment by the shareholder China Railway Construction Investment Group Co., Ltd. [1][2] Group 1: Share Transfer Details - Guoren Insurance's shares are being listed for transfer on the Beijing Property Exchange, with a minimum transfer price of 331.86 million yuan [2] - The transfer is part of a broader trend where state-owned enterprises are gradually exiting non-core financial investments, as mandated by the State-owned Assets Supervision and Administration Commission [3] Group 2: Company Background and Financial Performance - Guoren Insurance has a registered capital of 4.007 billion yuan and is the only property insurance company controlled by Shenzhen's state-owned assets [3] - The company reported insurance business revenue of 9.341 billion yuan for the first three quarters of 2025, a decrease from 10.275 billion yuan in the same period last year, while net profit increased to approximately 337 million yuan [5] - The comprehensive cost ratio for the first three quarters of 2025 was 102.8%, up nearly 3 percentage points from 99.82% year-on-year [5] Group 3: Shareholder Structure - The largest shareholder, Shenzhen Investment Holdings Co., Ltd., holds 41% of Guoren Insurance, followed by other significant shareholders including Union Beauty Holdings and Shenzhen Luohu Investment Holdings [4] - The current shareholder structure includes 18 state-owned and private enterprises, indicating a diverse ownership base [3][4] Group 4: Regulatory and Management Changes - Guoren Insurance has faced over 2 million yuan in fines since 2025 due to compliance issues, including penalties for inaccurate data reporting and improper use of insurance terms [5] - The management team has undergone significant changes, becoming younger, with the current chairman, Fang Yongbin, having led the company for over seven years [7]